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Mom-and-pop shops are enjoying a resurgence after years of yielding to big-box players, thanks in large part to the democratizing forces of the Internet, which lets consumers enjoy goods from their favorite local shops even after they move away. "Being online gives shops the opportunity to reach the world rather than just the tourist trade and local shoppers," said NPD Group's Marshal Cohen.

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Small businesses in New York City are pushing back against rising rents with a social media campaign designed to preserve some of the mom-and-pop retailers that they say give the city its character. One small retailer reached a settlement with SL Green when a chain retailer wanted to take his space.

Retail REIT executives are finding smaller retailers to be viable tenants, fueled in part by community banks' willingness to lend locally. Kimco Realty and Equity One report occupancy gains in part to small tenants. Kimco expects to see small-shop occupancy hit 90% within the next year; at Equity One, leasing activity is evenly split between mom-and-pop stores and chains and franchisees.

The subscription model is becoming increasingly popular with online retailers and consumers who enjoy getting a box of surprises every month and then deciding which to keep, according to NPD Group's Marshal Cohen. Fashion sellers such as Le Tote and Trunk Club are some of the latest entrants, with different takes on the model -- Le Tote charges $49 per month and lets women wear the pieces for as long as they want before buying, while Trunk Club's men's fashions don't come with a monthly fee, but shoppers only have 10 days to decide whether to buy.

Mom-and-pop stores are disappearing from retail centers including grocery-anchored shopping centers to lifestyle establishments. Some of this is due to big boxes being a preferred tenant, but it is also due to a lack of access to credit for such retailers.

Act early to renegotiate loan terms with lenders and reduce operating costs to help troubled tenants, recommended speakers at an ICSC conference in Florida. While not all of the distressed property nationally is retail, a significant amount of it is small open-air centers tenanted by mom-and-pop shops, said an executive.